New England Asset Management Inc. Raises Position in The Kraft Heinz Company (NASDAQ:KHC)

New England Asset Management Inc. lifted its position in The Kraft Heinz Company (NASDAQ:KHC) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,200 shares of the company’s stock after acquiring an additional 2,505 shares during the quarter. New England Asset Management Inc.’s holdings in Kraft Heinz were worth $2,956,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MADDEN SECURITIES Corp lifted its stake in shares of Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after acquiring an additional 303 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after purchasing an additional 314 shares during the period. Axiom Advisory LLC grew its holdings in shares of Kraft Heinz by 5.2% in the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after purchasing an additional 327 shares during the last quarter. Norden Group LLC increased its stake in Kraft Heinz by 3.8% in the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after buying an additional 339 shares during the period. Finally, Valley Wealth Managers Inc. increased its position in shares of Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after acquiring an additional 340 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $31.07 on Tuesday. The stock has a market cap of $37.57 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. The business has a 50-day simple moving average of $34.43 and a 200-day simple moving average of $34.38. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. On average, equities analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.15%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KHC. Citigroup decreased their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company upped their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler lowered their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Barclays cut their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.00.

Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.